Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against OKX−0.039%7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1251.248% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days+0.032%+$3 · spread now −0.039%, 7d avg +0.030%

Together, before fees+0.032%+$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.069% cheaper against OKX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SPX-USDT-SWAP	0.5133	0.0100	pay 0.0050% / 4h	2h 00m	$959K	$2.9M	20x
Short	BingX SPX-USDT	0.5131	0.0100	get 0.0050% / 4h	2h 00m	—	$6.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against OKX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee OKXbpFee BingXbpOrdersPrice spread, now −0.039%Rate

Funding earned: $0
Price spread: −0.039% → +0.030%: −$6.9
Slippage, 4 orders: −$104.76
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$131.66
Costs to cover: 1.248%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; BingX: live order book, 7 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy OKX live order book, 1 min ago	4.86 bp	36.6 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	7.85 bp	29.3 bp −$29	69.5 bp −$695	327.1 bp −$32.7K	doesn't fit

SPX on 18 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−3.000%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5147	+0.267%	$139K	$358K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5146	+0.259%	$10.3M	$7.5M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5140	+0.141%	$5.2M	$21.1M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5129	−0.078%	$11.7M	$16.0M	50x	as long as short
OKX SPX-USDT-SWAPlong	+0.0100%	4h	0.5133	long leg	$959K	$2.9M	20x
Gate SPX_USDT	+0.0100%	4h	0.5139	+0.117%	$1.0M	$557K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5138	+0.097%	$11.7M	$5.0M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5141	+0.156%	$3.8M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5150	+0.331%	$2.7M	$1.4M	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SPX-USDTshort	+0.0100%	4h	0.5131	−0.039%	—	$6.9M	—
Variational Omni SPX	+0.0100%	4h	0.5139	+0.119%	$890K	$1.4M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5128	−0.097%	$46K	$244K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5136	+0.058%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5141	+0.152%	$35K	$258K	10x	as long as short
Aster SPXUSDT	+0.0110%	4h	0.5136	+0.055%	$130K	$111K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0148%	4h	0.5154	+0.409%	$20K	$599	10x	as long as short
Kraken Futures PF_SPXUSD	+0.1160%	1h	0.5149	+0.308%	$255K	$541K	20x	as long as short